The focus was on machinery essential for Micro, Small, and Medium Enterprises (MSMEs). Dr Charlie Than, the union minister for industry in Myanmar, recently held a…
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Bangladesh’s apparel industry has taken advantage of the grave Covid situation in India and the military coup in Myanmar. The apparel export orders from these countries have been shifted to Bangladesh now.
Myanmar’s political instability, lockdown in Cambodia and a the COVID-19 situation in India has prompted international retailers and brands to divert work orders to Bangladesh. Export earnings hit $3.13 billion in April.
Rising labour costs, among other reasons, have driven Chinese manufacturers to set up operations in Southeast Asian countries. A study by ANZ Bank economists suggest that Southeast Asia would take over from China to become the ´world´s factory´ in the next 10-15 years, citing its youthful workforce and strategic location as catalysts for this shift.